Danaher offers to buy Trojan Technologies
Washington, D.C.; London, Ontario, Canada—Danaher Corp. has agreed to acquire all shares of Trojan Technologies Inc. for approximately $185 million in cash, including transaction costs and net of cash acquired.
Washington, D.C.; London, Ontario, Canada— Danaher Corp. has agreed to acquire all shares of Trojan Technologies Inc. for approximately $185 million in cash, including transaction costs and net of cash acquired. Trojan’s board of directors has already recommended that its shareholders accept the offer, pending regulatory approvals and other closing conditions.
Trojan manufactures water treatment solutions using ultraviolet (UV) technologies, and has annual revenues of approximately $100 million. Danaher manufactures process/environmental controls, tools, and components.
'Acquiring Trojan brings another premier brand name to Danaher's environmental platform, and broadens our footprint in water quality into the water disinfection segment,” says H. Lawrence Culp, Jr., Danaher’s president and CEO. “We're looking forward to working with Trojan's management and associates to build on the strong foundation they've established in this attractive growth market.'
Marvin DeVries, Trojan’s president and CEO, adds that the transaction would provide the company with enhanced access to financial resources and a stronger global base. 'Both Trojan and Danaher share a common vision of providing innovative solutions for the water quality market. By joining forces, we will be able to expand at a faster pace into important emerging markets, such as China, Eastern Europe and India. We look forward to this new and exciting chapter in Trojan's business.'
Control Engineering Daily News Desk
Jim Montague, news editor